On the early 2021, a company purchased a machine with a cost of RP 6,000 and a commercial useful life of 3 years and a fiscal useful life of 2 years with no salvage value. Machines are put together using the straight-line method both commercially and fisc
On the early 2021, a company purchased a machine with a cost of RP 6,000 and a commercial useful life of 3 years and a fiscal useful life of 2 years with no salvage value. Machines are put together using the straight-line method both commercially and fiscally. In addition, during 2021 the company also earns Rp. 5,000 and the warranty fee is estimated at 10% of the revenue. The warranty fee is fiscally charged in 2023. The general tax rate is 40%.
1. Compute the deferred tax asset or liability for the two transactions at the end of 2021 and give your explanation
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On the early 2021, a company purchased a machine with a cost of RP 6,000 and a commercial useful life of 3 years and a fiscal useful life of 2 years with no salvage value. Machines are put together using the straight-line method both commercially and fisc
machine 1: cost 76,000 salvage value 6,000 useful life 10 years purchased 7/1/16 machine 2: cost...
machine 1:
cost 76,000
salvage value 6,000
useful life 10 years
purchased 7/1/16
machine 2:
cost 80,000
salvage value 10,000
useful life 8 years
purchased 1/1/13
machine 3:
cost 78,000
salvage value 6,000
useful life 6 years = 24,000 hours
purchased 1/1/18
Problem: In recent years, Hrubeck Company purchased three machines. Because of heavy turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods were selected. Information concerning...
The Vermont Construction Company purchased a truck on January 1, 2009 at a cost of $35000. The truck has a useful life of eight years with an estimated salvage value of $6000. The straight-line method...
The Vermont Construction Company purchased a truck on January 1, 2009 at a cost of $35000. The truck has a useful life of eight years with an estimated salvage value of $6000. The straight-line method is used for book purposes, for tax purposes the track would be depreciated with the MACRS method over its five-year useful life. Determine the depreciation amount to be taken over the useful life of the having truck for both and tax purposes.
on 7/1/16 kale company purchased a machine for 1980000 and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. on 1/1/19 ale determined thta...
on 7/1/16 kale company purchased a machine for 1980000 and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. on 1/1/19 ale determined thta the machine had a useful life of six years from the date of aquisition and will have a salvage value of 180000. an accounting change was made in 2019 to reflect these additional data. prepare the entry or entried related to the machine for 2019. what is...
On January 2, 2016, Flake Company purchased a truck for $140,000 cash. That truck has an estimated useful life of seven years and an estimated salvage value of $12,000. The straight-line method of depreciation is being used. Required: A. Prepare a sch
On January 2, 2016, Flake Company purchased a truck for $140,000 cash. That truck has an estimated useful life of seven years and an estimated salvage value of $12,000. The straight-line method of depreciation is being used.Required: A. Prepare a schedule showing the calculation of the book value of the truck on December 31, 2019. B. Assume the truck is to be disposed of on May 1, 2020. Prepare the journal entry to record the depreciation for the four months ended April 30, 2020. C. Assuming...
machine 1:
cost 76,000
salvage value 6,000
useful life 10 years
purchased 7/1/16
machine 2:
cost 80,000
salvage value 10,000
useful life 8 years
purchased 1/1/13
machine 3:
cost 78,000
salvage value 6,000
useful life 6 years = 24,000 hours
purchased 1/1/18
Problem: In recent years, Hrubeck Company purchased three machines. Because of heavy turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods were selected. Information concerning...
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